Old Second Bancorp embarks on a significant digital transformation journey, focusing on enhancing its core banking operations and customer experience. This initiative involves upgrading critical systems and integrating advanced technologies across its retail and commercial segments. The company aims to standardize processes and improve digital offerings, especially in customer-facing interactions.
This transformation creates new dependencies and potential challenges across various systems, data flows, and workflows. Critical processes like customer onboarding and data synchronization become vital, introducing risks of operational bottlenecks or data discrepancies. This page analyzes specific digital initiatives, associated operational challenges, and potential sales opportunities for vendors.
Old Second Bancorp Snapshot
Headquarters: Aurora, Illinois
Number of employees: 1001–5000 employees
Public or private: Public
Business model: Both (B2B & B2C)
Website: http://www.oldsecond.com
Old Second Bancorp ICP and Buying Roles
Who Old Second Bancorp sells to
- Regional businesses with complex treasury management needs.
- Individual customers seeking integrated digital banking services.
Who drives buying decisions
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Chief Technology Officer → Oversees the bank's technology infrastructure and digital strategy.
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EVP of Retail Banking → Leads retail customer experience and digital service delivery.
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Head of Operations → Manages core banking processes and operational efficiency.
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Head of Commercial Banking → Directs technology investments for business client services.
Key Digital Transformation Initiatives at Old Second Bancorp (At a Glance)
- Digitizing account opening and maintenance across retail and business deposit products.
- Automating core banking workflows with a low-code platform.
- Integrating acquired banking systems into the existing technology stack.
- Unifying online and mobile banking platforms for a consistent customer experience.
- Streamlining internal loan origination and credit scoring through fintech partnerships.
- Modernizing treasury management services with advanced digital capabilities.
Where Old Second Bancorp’s Digital Transformation Creates Sales Opportunities
| Vendor Type | Where to Sell (DT Initiative + Challenge) | Buyer / Owner | Solution Approach |
|---|---|---|---|
| Digital Onboarding Platforms | Automating digital account opening: customer data fields contain input errors requiring manual correction. | EVP of Retail Banking, Head of Operations | Validate customer data against external sources during digital capture. |
| Digitizing account maintenance: document submission often fails to meet compliance standards without clear guidance. | Head of Compliance, Head of Operations | Enforce document validation rules within the submission workflow. | |
| Automating digital account opening: authentication processes frequently create customer abandonment points. | Head of Digital Product, Chief Technology Officer | Standardize multi-factor authentication methods to reduce friction. | |
| System Integration Platforms | Integrating acquired banking systems: transaction data fails to propagate between disparate core systems. | Chief Technology Officer, Head of IT Architecture | Route transaction data consistently between merged banking systems. |
| Unifying mobile banking platforms: customer data appears inconsistently across different customer views. | Head of Digital Product, EVP of Retail Banking | Standardize customer profile data for a unified digital experience. | |
| Integrating acquired banking systems: regulatory reporting includes incomplete data from migrated accounts. | Head of Compliance, Chief Financial Officer | Enforce data completeness checks for regulatory submissions post-integration. | |
| Workflow Automation Tools | Automating account opening workflows: rule-driven validations frequently block valid applications. | Head of Operations, Process Owner | Refine rule sets to route valid applications automatically through approval steps. |
| Digitizing account maintenance requests: service requests are often miscategorized, causing misrouting. | Head of Operations, Customer Service Director | Categorize incoming service requests using predefined parameters for accurate routing. | |
| Lending & Credit Platforms | Streamlining loan origination: credit scoring models provide inconsistent results across various loan products. | Head of Lending, Chief Risk Officer | Calibrate credit scoring models for consistent output across diverse loan portfolios. |
| Streamlining loan origination: manual data entry creates delays in application processing workflows. | Head of Commercial Banking, Head of Operations | Standardize data intake and automate data transfer into loan processing systems. | |
| Treasury Management Solutions | Modernizing treasury management: payment initiation frequently fails due to incorrect beneficiary information. | Head of Commercial Banking, Treasury Management Product Manager | Validate beneficiary details before payment submission to prevent failures. |
| Modernizing treasury management: reconciliation workflows require manual matching of incoming payment data. | Chief Financial Officer, Head of Operations | Standardize payment data formats to automate reconciliation processes. |
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What makes this Old Second Bancorp’s digital transformation unique
Old Second Bancorp's digital transformation strategy uniquely balances a focus on internal operational automation with customer-facing digital services. They heavily prioritize integrating disparate systems following acquisitions to ensure a unified customer experience across all touchpoints. This approach creates significant dependencies on robust data synchronization and workflow orchestration, distinguishing their path from banks focused solely on front-end enhancements. Their adoption of low-code platforms for critical workflows like digital account opening also indicates a preference for agile development and rapid iteration in their Old Second Bancorp digital transformation.
Old Second Bancorp’s Digital Transformation: Operational Breakdown
DT Initiative 1: Digitizing Account Opening and Maintenance with NewgenONE DPA
What the company is doing
Old Second Bancorp deploys NewgenONE DPA to digitize account opening and maintenance for retail and business deposit products. This initiative uses a low-code platform to centralize front-office onboarding workflows and maintenance requests. The system expands automated handling from three to fifteen core service requests.
Who owns this
- EVP of Retail Banking
- Chief Technology Officer
- Head of Operations
Where It Fails
- Customer data validation rules frequently identify valid entries as errors within the low-code form capture.
- Workflow orchestration steps require manual overrides for routine account opening exceptions.
- Digital authentication processes cause high customer abandonment rates before application completion.
- Maintenance request routing often misdirects inquiries due to incomplete initial categorization.
Talk track
Noticed Old Second Bancorp is digitizing account opening workflows with NewgenONE DPA. Been looking at how some banking teams are validating customer data earlier to prevent errors instead of correcting them later, can share what’s working if useful.
DT Initiative 2: Integrating Acquired Bank Systems (Evergreen Bank Group)
What the company is doing
Old Second Bancorp completes the system and brand conversion of acquired Evergreen Bank Group locations. This action integrates Evergreen's systems, products, and service offerings into Old Second's existing infrastructure. The bank provides former Evergreen customers with full access to Old Second's online and mobile banking platforms.
Who owns this
- Chief Technology Officer
- Head of IT Integration
- Head of Operations
Where It Fails
- Transaction data fails to sync consistently between the legacy Evergreen core system and Old Second's ERP.
- Customer records appear with incomplete historical data within the unified mobile banking platform.
- Regulatory reporting functions include omitted data points from the migrated account portfolios.
- Service requests from acquired customers are often misrouted due to unfamiliarity with Old Second's internal systems.
Talk track
Looks like Old Second Bancorp unified systems after integrating Evergreen Bank Group. Been seeing how some banks standardize data mapping during acquisitions to ensure consistent reporting instead of reconciling data post-merger, happy to share what we’re seeing.
DT Initiative 3: Modernizing Treasury Management Systems
What the company is doing
Old Second Bancorp focuses on continuous fintech integrations to streamline loan origination, credit scoring, and treasury management. This effort aims to reduce processing times and risk exposure for commercial clients. The bank seeks to bring new solutions and technology to its customer base for cash flow management.
Who owns this
- Head of Commercial Banking
- Treasury Management Product Manager
- Chief Technology Officer
Where It Fails
- Payment instruction data often contains incorrect beneficiary details, causing transaction failures.
- Automated cash application workflows frequently fail to match incoming payments with outstanding invoices.
- Commercial loan applications require manual data entry during the credit scoring process.
- Risk exposure calculations use delayed transaction data, leading to outdated assessments.
Talk track
Saw Old Second Bancorp is modernizing its treasury management systems. Been looking at how some commercial banks validate payment details upfront to prevent transaction failures instead of processing reversals, can share what’s working if useful.
DT Initiative 4: Enhancing O2 Digital Banking Platform
What the company is doing
Old Second Bancorp continuously enhances its O2 Digital Banking platform for retail and business customers. This platform aggregates all financial accounts, allows transaction management, bill payments, and mobile check deposits. The bank integrates advanced features like debit card controls and personalized financial analytics.
Who owns this
- EVP of Retail Banking
- Head of Digital Product
- Chief Technology Officer
Where It Fails
- Mobile check deposit functionality often produces unclear images, forcing manual re-submission.
- External account aggregation fails to refresh data consistently from linked financial institutions.
- Personalized financial analytics dashboards display inconsistent spending categorization across different views.
- Alerts for balance drops or large transactions do not always trigger in real-time.
Talk track
Noticed Old Second Bancorp is enhancing its O2 Digital Banking platform. Been looking at how some banks standardize image capture for mobile deposits to reduce re-submissions instead of relying on manual fixes, happy to share what we’re seeing.
Who Should Target Old Second Bancorp Right Now
This account is relevant for:
- Digital process automation platforms
- System integration and data migration specialists
- Financial workflow orchestration tools
- Lending platform solution providers
- Treasury management system integrators
- Digital banking experience analytics platforms
Not a fit for:
- Basic website development services
- Generic IT infrastructure providers
- Standalone HR software without banking specialization
- Simple marketing automation tools
When Old Second Bancorp Is Worth Prioritizing
Prioritize if:
- You sell solutions that validate customer data during digital onboarding workflows to prevent input errors.
- You sell platforms that consistently route transaction data between disparate banking systems post-acquisition.
- You sell tools that refine rule-driven validations in automated account opening processes to reduce false blocks.
- You sell solutions that calibrate credit scoring models for consistent results across diverse loan product portfolios.
- You sell platforms that validate beneficiary details before payment submission in treasury management.
- You sell solutions that standardize image capture for mobile check deposits to reduce re-submissions.
Deprioritize if:
- Your solution does not address specific breakdowns in banking workflows or data integration.
- Your product is limited to basic functionality with no advanced integration capabilities for financial systems.
- Your offering is not built for multi-system or multi-channel financial environments.
Who Can Sell to Old Second Bancorp Right Now
Digital Process Automation
Newgen Software - This company offers an AI-first unified digital transformation platform with process automation and content services.
Why they are relevant: Old Second Bancorp's digital account opening has expanded to many service requests, but rule-driven validations still block valid applications. Newgen, as their current vendor, can help refine these rules within their platform to prevent processing delays.
Appian - This company provides a low-code platform for building enterprise applications and automating workflows.
Why they are relevant: Manual overrides are often needed for exceptions in Old Second Bancorp's automated account opening workflows. Appian can provide tools to manage and standardize exception handling processes, routing them efficiently without manual intervention.
Pegasystems - This company offers a low-code platform for intelligent automation and customer engagement across various industries, including financial services.
Why they are relevant: Old Second Bancorp's digital authentication processes cause high customer abandonment rates. Pegasystems can enforce dynamic customer authentication steps, reducing friction while maintaining security standards within the onboarding process.
System Integration & Data Synchronization
SnapLogic - This company offers an integration platform as a service (iPaaS) for connecting applications, data, and devices.
Why they are relevant: Transaction data fails to sync consistently between Old Second Bancorp's legacy and acquired banking systems. SnapLogic can ensure consistent data propagation between these disparate core systems.
Informatica - This company provides enterprise cloud data management solutions, including data integration and data quality tools.
Why they are relevant: Customer records appear with incomplete historical data within Old Second Bancorp's unified mobile banking platform. Informatica can standardize customer profile data, ensuring completeness and consistency for a unified digital experience.
Dell Boomi - This company offers a cloud-native integration platform (iPaaS) that connects applications, data, and processes.
Why they are relevant: Regulatory reporting functions include omitted data points from migrated account portfolios after Old Second Bancorp's acquisition. Dell Boomi can enforce data completeness checks specifically for regulatory submissions post-integration.
Lending & Treasury Management Technology
Finastra - This company provides a portfolio of financial services software, including solutions for lending, payments, and treasury.
Why they are relevant: Old Second Bancorp's credit scoring models provide inconsistent results across various loan products. Finastra can calibrate these credit scoring models for consistent output across diverse loan portfolios.
Q2 Holdings - This company delivers digital banking and lending solutions for financial institutions.
Why they are relevant: Old Second Bancorp's commercial loan applications still require manual data entry during processing. Q2 can automate data intake and transfer into loan processing systems, reducing manual effort.
FIS (Fidelity National Information Services) - This company offers a broad range of financial services technology and outsourcing services, including treasury management.
Why they are relevant: Old Second Bancorp's payment instruction data often contains incorrect beneficiary details, causing transaction failures in treasury management. FIS can validate beneficiary details before payment submission to prevent these failures.
Final Take
Old Second Bancorp is actively scaling its digital account opening workflows and integrating acquired banking systems, demonstrating a clear focus on the Old Second Bancorp digital transformation. Breakdowns are visible in data validation, system synchronization, and workflow automation, leading to operational inefficiencies and inconsistent customer experiences. This account presents a strong fit for vendors offering solutions that directly address these specific integration, data quality, and process automation challenges within a banking context.
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